Despite that 2024 has been the worst year of my life, teaching myself about financial literacy is the best decision that I have made. I can reassure you (American or Western man) that you are able to quickly and successfully learn so much information and figure:

• how to invest in the stock market, crypto market, and/or real estate market
• which assets may suit your needs, desires, intentions, etc.
• whether or not you should open and deposit in a high-yield savings account (HYSA), money market account (MMA), or both
• how to become financially free and escape your daily fiscal problems for good

Thanks to free and unlimited data that you are capable of obtaining online and even offline (through physical books or conversations with other people), you can become both an financial instructor and student to yourself. Avoid spending money on financial literacy classes that can confuse you or hiring financial experts that may take advantage of you and steal your funds from brokerage, savings, and/or checking accounts in the future. Acquire or purchase a nice and professional-looking and durable notebook like I have in order to handwrite and collect innumerable financial keywords that are difficult to comprehend. Then, search on Google and describe each term in your own terms. I consider this self-teaching method as the best education that you can gain because you are able to study whatever you want or need at your own pace, time, or comfort level. No one or nothing can rush, pressure, or exploit you against your will.

For a couple of months, I have been watching YouTube videos about millions of individuals struggling with their jobs, salaries, living situations, vehicles, etc. The primary reason is their lack of financial literacy. They have been taught little or nothing regarding stocks, bonds, HYSAs, MMAs, exchange-traded funds (ETFs), cryptocurrencies, and so forth. From childhood to adulthood, they have always been told to excel in school, graduate with diplomas, certificates, and/or college degrees, and get decent employment. The same thing has applied to me too. But, mediocrity and shortage of money are the norms of society nowadays. The good news is, that through my online business (“Foreign Chat Web“) and especially this blog of almost 8 years, telling you and others that we can still attain wealth and succeed in our unique and God-given dreams.

If you want to remain in mental and financial health for good, please put all of your hard-earned money in separate or different financial accounts.

Here are my 5 great purposes:

You can avoid becoming a (repeated) target or victim to hackers, scammers, and/or thieves.

There is always that quote (“Do not put all of your eggs in one basket”.) that we should never forget. If you deposit most or all of your money in only a single financial account, you are eventually going to attract additional people (whether they are your relatives, friends, total strangers, or even employees who work within the bank, credit union, or broker that holds your currency) to it. Do not be surprised if you:

• face delay(s) whenever you try to withdraw large amount(s) from your account(s)
• receive weird or suspicious messages via email or text
• get strange invoice bills or excuses from the bank or broker concerning the reason(s) why you cannot get your funds

An anonymous author from “Dominion” website verifies my possibilities through the growth of identity theft. For that explanation, I have over 5 brokerage accounts with extra details so that I can still protect my identity, net worth, etc. You should follow my footsteps too because nowadays anything can happen and anyone can gain your sensitive data. Confuse and/or complicate potential cybercriminals and even offline burglars with more personal details about yourself on countless online banks/brokers. You would perhaps feel like a financial conqueror as I do for the past 6 months.

“Tragic Impact of $98,000 Life Savings Scam On Victims” video – “The Project” YouTube channel

You do not have to emotionally rely on your job(s) anymore.

Gone are the days of job security, stability, and/or equity. Mark Webster of “Authority Hacker” website reports that 55% of Americans are frightened or worried about losing their jobs. If they still refuse to save and/or invest some of their earned wages, then they are putting themselves in financial danger and feasible credit card debt (due to borrowing and spending extra money that does not belong to them). I have been guilty and subjected to both issues in the previous jobs that I have lost. Between my 4-month period of unemployment and my current job, I have become self-taught anent the economic system plus eager to buy many shares of diverse stocks, ETFs, bonds, etc. As a result, I no longer have to worry about being broke ever again or applying for another credit card (which I compare to “selling your soul to the devil“). Based on my own experiences, do not join the large crowd of individuals who are underpaid, unemployed, and/or in huge credit card debt. Create a passive income of $100K or even more through diverse brokerage accounts like smart and rich investors do. Your future self would forever thank you.

You can easily or rapidly increase your wealth and investments.

Consider any of these 4 fiscal terms when it comes to growth of your investment portfolio(s) periodically:

• compounding
• compound growth
• compound interest
• compound annual growth rate (CAGR)

As a multinational bank and a division of the “Big Fair Banks” in United States, Wells Fargo motivates thousands or millions of people to stay patient, become (more) financially literate, and keep buying (fractional) shares of different stocks, ETFs, index funds, etc. year after year. Every week, I enjoy depositing funds into my brokerage accounts in order to invest in the “Magnificent 7” stocks, Vanguard ETFs, cryptocurrencies (e.g. Bitcoin, Dogecoin, and surprisingly Official Trump), and so forth. The dividend payments that I receive for owning shares of certain assets are automatically reinvested so that I can collect more shares. This investment duty is just as fun as purchasing and accumulating liabilities or materialistic items (that may depreciate or become worthless someday) are. You can become an addictive investor as I am. Thus, you can earn enough capital to afford a brand new house, (another) vehicle, etc. someday.

“FINANCE PROFESSOR EXPLAINS: Best Way to Invest Large Chunk of Money” video – “Investing Simplified – Professor G” YouTube channel

You can permanently stay away from credit cards and their ridiculously or unfairly expensive debts.

Sadly, numerous humans who lack or choose not to learn about financial education are more likely to become recurring credit card consumers. They are eventually going to make credit card companies happier, wealthier, and more popular to entice financially dumb people to their dangerous credit cards. The good news is that the same individuals are still capable of paying all of their credit scores and becoming fiscally literate. According to author Elizabeth Gravier from ‘CNBC Select” website, here is my step-by-step process concerning how you, I, or someone else can forever escape from credit card, medical, etc. debts and enter the world of financial freedom:

• Begin budgeting or strategizing how much money you would need for buying, investing, and saving.
  • Jaspreet Singh of “Minority Mindset” YouTube channel recommends these frequent rates whenever you get paid:
    • 75% for bills, groceries, etc.
    • 15% for stocks, ETFs, bonds, real estate, cryptocurrencies to invest
    • 10% for future or unexpected emergencies
  • Finish paying your credit card, medical, etc. balances in full amount.
    • If you complete the task but still face unpleasant charges from the companies, then you may have to call and cancel your account(s) so that you can be done with them permanently.
  • After your debts are entirely paid, deposit more funds into your brokerage account(s) in order to buy and keep additional shares:
    • Select the desired amount (e.g. $50K or $500K) that suits your specified goals.
    • Consider also a MMA, HYSA, certificate of deposit (CD), or all of them for short-term or emergency reasons.

Like myself with my countless sources of money, you may be astounded of the amount that you can earn passively. Make yourself and your loved ones richer through different assets. Kick greedy credit card, insurance, etc. businesses to the curb. Then, you can enjoy your large sum(s) of funds freely and equally.

“Americans struggling with credit card debt, record number only making minimum payments” video – “CBS News” YouTube channel

You would eventually gain extra control of the economic system if you continuously educate yourself about it.

We are never alone when it comes to staying broke and/or working at minimum-wage jobs. It is never too late to learn or teach ourselves about finances and investments. Frankly, knowledge is power. Intelligent and wealthy investors like Warren Buffet and Robert Kiyosaki have much of it because their riches and assets are solid evidence. Similar to them, we also need to take advantage of the economic system by breaking down and putting its categories, parts, etc. in order of importance. Dr. Marie Morganelli of “Southern New Hampshire University” website exemplifies the economic system through these details:

• 3 types (aka economies)
  • command economy
  • market economy
  • mixed economy
• 3 branches
  • applied economics
  • macroeconomics
  • microeconomics

Obviously, various financial accounts, assets, and other things are included in the economic system as well. Like myself, you should handwrite a prolonged list of complicated financial keywords that frustrate or overwhelm you on a physical notebook. Define most or all of them from Google search and in your own terms. Realize the amount of fiscal data that you can study in a short time in order to commence investing for the long term. Make yourself and your loved ones rich(er) and financially smart(er) so that you all would never be taken advantage by stingy, greedy, and manipulative companies again.

“7 Secrets Your Bank Doesn’t Want You To Know” video – “Minority Mindset” YouTube channel

Conclusion

Despite of the parent(s) who has raised you since birth, the way(s) that you are brought up during childhood, and so on, you are still responsible for increasing your own wealth and creating your own legacy for your current family, potential children, and future grandchildren.

Prevent yourself from joining millions of people who choose to stay broke, unemployed or employed at low paying jobs, and/or indifferent about their huge debts.

Moreover, stay away from the Joneses who might have more liabilities than they do with their assets.

Follow me, Warren Buffet, and other smart investors instead by frequently buying whole or fractional shares of stocks, bonds, ETFs, index/mutual funds, real estate investment trusts (REITs), etc.

Teaching yourself about financial literacy and the economic system is going to help you survive, thrive, and outsmart scammers, debt collectors, and other greedy and conniving crooks.

Recently, I have watched an “Inside Edition” YouTube video about skimmer devices. American thieves have made them for attaching to real devices in ATMs, gas pumps/stations, and grocery stores. Their evil mission is to steal debit and credit card data from unsuspecting customers. Why do you think that more people need to have hidden or secret video cameras inside and/or around their properties?

The extra information that you study about theft, assets, savings, etc. (from books, videos, conversations with professionals, and other resources) can guide you to (additional) fiscal intelligence and freedom.

Open several brokerage accounts (which are considered multiple sources) so that you can grow all of your money into thousands or even millions of dollars in the future.

Work for yourself (instead of ungrateful and uncaring employers) in order to improve your unique set of skills and achieve your monetary goals.

Plan, create, and enjoy the remainder of your life without ever fretting about money and with the woman of your dreams.